Fairfax and Macquarie Radio Network strike merger deal
Fairfax Media and Macquarie Radio Network have agreed to merge in a deal that will see Fairfax take a majority shareholding of 54.5 per cent in a new enlarged listed entity.
The agreement, which had been widely expected, will bring together seven talkback radio stations, with Ray Hadley and Alan Jones both staying with the company.
Uncertainty surrounding their retention scuppered a deal earlier this year.
2ue pays the price for too many chops and changes. Sad for the staff who will suffer while the management get payouts.
I wonder when Fairfax will do something that gives a sense of a future? This is the predictable ending to its ridiculous radio acquisition and another deadwood deal. If as forecast they now pay a whopping amount for catalanos business then the board and management should go. In fact they might well ask why this business needs overhead of the scale it has, given the results it delivers.
Very few of the Fairfax executives deserve senior positions in the merged entity.
As 2UE is something of a basket case, it’ll be interesting to see what changes can be made to raise their mediocre ratings. While 2GB is overtly right wing, what will be the political policies thrust upon 2UE management?
I find it incredible that both Alan Jones and Ray Hadley who have been very upfront about other issues both domestic and international have not discussed what this means in DETAIL, because Fairfax has not shown itself to be of the same political persuasion as 2GB. They are number one because their listeners enjoy the same side of politics and I find it concerning that after Mr. Tate’s year is up things will change.
Hywood shaping Fairfax for the future. Domain in strong shape under Catalano and new team. Radio set.
Hywood woes now focus on the management of the so called ‘jewel in the crown’ the publishing business. New visionary MD and sales team required. Until then, we watch with baited breath.
Linnell and 2Ue will finish. Bring him back to run the Sydney Morning Herald and stop the stuff ups I say. But I just work at the coalface.
Considering how the merger previously fell over six months ago because Fairfax refused to employ Jones and Hadley it looks like we will eventually be free of both shock jocks when their contracts expire. Hadley went to air with a blistering, expletive-filled attack on Fairfax and 2UE when merger talks were happening months ago.
It won’t be easy. Singelton knew advertising but thinks he knows radio but reality he just employs the most expensive and successful jocks. Easy enough when the dollars are around and fine while Hadley and Jones are around (and alive!) and the much smarter people running 3AW prop things up. But their big problem is that people like me in their demographic listen to podcasts. The meter is on…..
The Fairfax ritual goes on and on. Clearly shareholders are clueless or they would have changed the board and management ages ago (perhaps before the stupid radio buy). Investors deserve what they get. But the public is going to be left with just News Corp media when inevitably this Fairfax debacle plays out.
Mr Tate
Time to bringg Rugby League to 2UE when next Rugby League Radio Rights Deal comes up and 2UE can gain Rugby League from either both of 702 ABC Sydney and/or 2MMM then sign all 702 ABC Sydney & 2MMM Staff to 2UE first in March 2015 sign John Stanley, Stuart Bocking, Justin Smith, Clive Robertson, Luke Bona, John Cardogan, George Moore, Paul B Kidd, Tim Webster & Pete Graham and all fillins from 2UE then sign to 2UE all Nova 969/.SmoothFM 95.3 staff to 2UE so that while 2UE losing current 2UE listeners to 2GB wihile 2UE gaining listeners & revenue from Nova 996/SmoothFM 95.3.